Hungary Will Not Allow the Construction of a Storage Facility for Petroleum Products for Ukraine, Magyar Said
MOL says the deal is preliminary, while Naftogaz says it would add storage outside Russian strike range for Ukraine's fuel supplies.
- On September 20, Hungarian energy group MOL and Ukraine's Naftogaz signed an MoU to develop petroleum-product storage capacity in Hungary near the Ukrainian border, announced during the Carpathian Eight summit.
- Hungarian Prime Minister Peter Magyar denounced the deal in parliament on September 21, calling the project "completely unacceptable" and vowing it will not be built while his Tisza Party remains in power.
- MOL chairman and CEO Zsolt Hernadi told Magyar that talks with international partners began under the previous Orban-led government, though Magyar claimed his administration had not been informed of the discussions.
- Naftogaz acting chief Serhii Fedorenko stated the initiative supports cross-border energy cooperation, noting that storage outside the range of Russian strikes is essential for market stability amid ongoing attacks on Ukrainian fuel infrastructure.
- MOL clarified that no project has been approved, financed, or permitted, adding that substantial preparatory work and consultations with Hungarian authorities are required before construction could be considered.
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According to Magyar, they had no idea that MOL was negotiating the construction of a Ukrainian gas and oil storage facility close to the Ukrainian border. This led to tensions that affected MOL CEO Zsolt Hernádi and even reached diplomacy.
Hungary’s prime minister opposes plan to build oil storage facility for Ukraine on Hungarian soil
Hungarian Prime Minister Péter Magyar called plans to build an oil storage facility for Ukraine on Hungarian territory a threat. Ukraine’s Naftogaz and Hungary’s MOL signed a memorandum on the project in September.
Hungarian Prime Minister Peter Magyar has called plans to build an oil storage facility for Ukraine on Hungarian territory a threat. Ukrainian company Naftogaz and Hungary's MOL signed a memorandum of understanding on the project in September, Russian independent news portal Meduza reports.
Hungarian PM reacts angrily to MOL-Naftogaz agreement on building Ukrainian fuel storage near border
MOL said preparations for potential hydrocarbon storage cooperation with Naftogaz could take years, after PM Peter Magyar made clear that the project would not proceed under his leadership.
Relations between Ukraine and Hungary are worsening again, after Prime Minister Peter Magyar has categorically rejected a collaboration at an advanced stage of realization between the Ukrainian giant Naftogaz and Mol. The two sides have even announced an agreement to build oil deposits in Hungary, but Prime Minister Magyar has rejected the idea and accused Mol that he would be negotiated without the government's agreement, writes Kyiv Independen…
Hungarian Prime Minister Peter Madyar said that there will be no joint strategic fuel reserve with Ukraine, although the day before Naftogaz and Hungarian MOL announced the signing of the relevant memorandum
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